Tosca talks $526.5 million term loan at Libor plus 350-375 bps

By Sara Rosenberg

New York, Feb. 5 – Tosca Services LLC launched on Friday its $526.5 million first-lien term loan (B2/B) due August 2027 with price talk of Libor plus 350 basis points to 375 bps with a 0.75% Libor floor and a par issue price, according to a market source.

The term loan has 101 soft call protection for six months and amortization of 1% per annum.

Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., UBS Investment Bank, Goldman Sachs Bank USA, Rabobank, KKR Capital Markets and Mizuho are the arrangers on the deal.

Commitments are due at noon ET on Thursday.

Proceeds will be used to reprice an existing term loan that priced last year at Libor plus 425 bps with a 25 bps step-down and a 1% Libor floor.

Tosca is an Atlanta-based provider of reusable packaging supply chain solutions.

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